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David Cay Johnston on the Bank Bailout as Corporate Socialism

David Cay Johnston
David Cay Johnston

The meltdown on Wall Street has many people asking, how come the government can find hundreds of billions to bailout the guys who brought us this mess–but always claims there’s no money to save homeowners from foreclosure, provide health insurance to those who can’t afford it, or clean up the environment?

Today’s guest David Cay Johnston says it’s all part of an endemic pattern of “corporate welfare”, where government policy is rigged to benefit the richest Americans at the expense of the rest of us. Johnston’s latest book is Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill). Johnston was an investigative journalist for the New York Times before becoming an independent reporter. He won a Pulitzer Prize for exposing loopholes and inequities in the U.S. tax code.

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